With the Alt-A market growing on the back of a strong lender push, analysts have been examining how to divvy up the market to more accurately assess risk.

"Currently there is a lot of discussion about differences in the types of product that fall between prime and subprime," said Satish Mansukhani, head of mortgage strategy at Credit Suisse First Boston, adding that there is a borrower base out there that is not served by either the prime or subprime markets.

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